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Paresh Nath | Eurozone Jobs / media.cagle.com

Paresh Nath | Eurozone Jobs / media.cagle.com

Section(s): 

The End of U.S. Capitalism

Politics Banner

  • Young people can see that the (capitalistic) system does not offer any solutions. They can see that a two-party system is not working for them. But what is the alternative? We (socialists) have to provide the alternative…
  • An interview with Seattle's new socialist councilmember, Kshama Sawant.

Josh Eidelson, Salon

Kshama SawantKshama Sawant, Salon / AP/Ted S. Warren

November 18, 2013 | On November 5, Seattle voters made Occupy activist and economics professor Kshama Sawant the first avowed socialist city council member in their city’s history – and the country’s first big city socialist council member in decades. In an interview Thursday – one day before her vote count lead spurred her opponent to concede the race – Sawant slammed Obama economics, suggested she could live to see the end of U.S. capitalism, and offered a socialist vision for transforming Boeing. A condensed version of our conversation follows.

It appears you’re on the cusp of winning a major city’s council race as a socialist. How did that happen?

Josh Eidelson was a union organizer for five years. He covers labor for Salon, Nation,  and In These Times.

Full story…

Paul Krugman | A Permanent Slump?

  • What if depression-like conditions are on track to persist, not for another year or two, but for decades?
  • Why the Boeing machinists' fight matters
  • What if this is the end of recovery, the new "normal"?
  • Obama should have listened to Paul Krugman

Paul Krugman, New York (NY) Times

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Austerity graphic

November 17, 2013 | Spend any time around monetary officials and one word you’ll hear a lot is “normalization.” Most though not all such officials accept that now is no time to be tightfisted, that for the time being credit must be easy and interest rates low. Still, the men in dark suits look forward eagerly to the day when they can go back to their usual job, snatching away the punch bowl whenever the party gets going.

But what if the world we’ve been living in for the past five years is the new normal? What if depression-like conditions are on track to persist, not for another year or two, but for decades?

The Nobel Prize-winning Op-Ed columnist Paul Krugman comments on economics and politics.

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Why the Boeing machinists' fight matters, Ari Paul, Aljazeera America

Corporate Accountability & Workplace Banner

Boeing's fight against its machinists raises a terrifying possibility about U.S. capitalism. It appears that instead of industrial growth translating into national prosperity, the United States is beginning to conform to what economists call the Iron Law of Wages, which says the natural price of labor is subsistence. The only reasonable pay for workers, the theory goes, is enough to sustain them to live and work to produce value for their bosses and nothing more.

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Obama should have listened to Paul Krugman, Walden Bello, Salon

Why the Boeing machinists' fight matters

Corporate Accountability & Workplace Banner

  • Boeing's fight against its machinists raises a terrifying possibility about U.S. capitalism. It appears that instead of industrial growth translating into national prosperity, the United States is beginning to conform to what economists call the Iron Law of Wages, which says the natural price of labor is subsistence. The only reasonable pay for workers, the theory goes, is enough to sustain them to live and work to produce value for their bosses and nothing more.
  • Paul Krugman | A Permanent Slump?

Ari Paul, Aljazeera America

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Machinist Colton Yalowicki at the Everett Machinists Union Hall during a rally on Monday, Nov. 11, 2013. Mark Mulligan/The Herald/AP

November 18, 2013 | In a one-sided vote on Nov. 13, unionized machinists in Everett, Wash., rejected a multiyear contract to build Boeing’s new 777x jetliner, choosing dignity over a paycheck. Their union — the International Association of Machinists District 751 — is opposing the profitable company's proposal that would have eviscerated workers' pensions and cut back on health care. Considered extremely long in U.S. labor relations (most contracts are for no more than five years), the eight-year contract proposed by Boeing would keep the union from striking and from negotiating for higher wages that keep up with inflation.

Boeing, in response, has threatened to move production to a nonunion state, which is why Washington has offered the company the biggest state tax subsidy in U.S. history ($8.7 billion over the next 16 years) and why union leadership urged a yes vote. The result was not only a stunning rebuke but also a testament to the gloomy idea that U.S. workers may never share in the prosperity of the companies they serve.

Ari Paul is a labour journalist in New York City, writing for the Nation, the American Prospect, al-Jazeera English and others.

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Related:

Paul Krugman | A Permanent Slump? Paul Krugman, New York (NY) Times

  • What if depression-like conditions are on track to persist, not for another year or two, but for decades?
  • Why the Boeing machinists' fight matters
  • What if this is the end of recovery, the new "normal"?
  • Obama should have listened to Paul Krugman
 
Section(s): 

The Superrich Don't Need Our Middle Class Infrastructure any more

  • Times have changed -- and the elites inhabit their own private economy.
  • 5 Ways Super-Rich Are Betraying America

Thom Hartmann, Truthout

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Break Through(Image: Break through via Shutterstock) 

November 5, 2013  |  America is falling apart — and this nation's super-rich are to blame.

There was once a time in America when the super-rich needed you, and me, and working-class Americans to be successful.

They needed us for their roads, for their businesses, for their communications, for their transportation, as their customers, and for their overall success. The super-rich rode on the same trains as us, and flew in the same planes as us. They went to our hospitals and learned at our schools. Their success directly depended on us, and on the well-being of the nation, and they knew it.

Thom Hartmann is an American radio host, author, former psychotherapist, entrepreneur, and liberal political commentator.

Full story…

Related:

5 Ways Super-Rich Are Betraying America, Paul Bucheit, AlterNet

This small group of takers is giving up on the country that made it possible for them to build huge fortunes.

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